Gap Inc.

Two years ago, Aéropostale Chief Executive Officer Julian Geiger shared his view of the adolescent shopper. "The teenager today wants to fit in," he told analysts. "They want to fit in by wearing things that make them feel safe. If there's a brand promise to Aéropostale, it's that the teenager can wear our clothes, go to school, and not be teased or made fun of the way they look."

It turned out he was wrong. After decades of battling with rivals Abercrombie & Fitch and American Eagle, brands that realized normal didn't sell anymore and sought to reposition themselves, Aéropostale doubled down and ended up the ultimate loser in the teen...

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